KVH Industries (NASDAQ:KVHI) Issues Earnings Results, Misses Expectations By $0.06 EPS

KVH Industries (NASDAQ:KVHI) issued its earnings results on Friday. The communications equipment provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.06), Morningstar.com reports. The business had revenue of $41.00 million for the quarter, compared to the consensus estimate of $40.32 million. KVH Industries had a negative return on equity of 4.30% and a negative net margin of 6.16%. KVH Industries updated its FY 2019 guidance to $-0.53–0.31 EPS and its Q3 2019 guidance to $-0.14–0.05 EPS.

KVH Industries stock traded down $0.28 during trading hours on Friday, reaching $9.82. The stock had a trading volume of 19,223 shares, compared to its average volume of 21,736. The company has a market capitalization of $180.59 million, a P/E ratio of -81.83 and a beta of 0.87. The stock has a 50 day moving average of $10.35. KVH Industries has a 52 week low of $9.09 and a 52 week high of $13.20. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24.

Several equities research analysts have recently commented on KVHI shares. Raymond James set a $12.00 price target on shares of KVH Industries and gave the company a “buy” rating in a report on Friday, May 17th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective (down from $14.00) on shares of KVH Industries in a report on Friday, May 3rd. Zacks Investment Research downgraded shares of KVH Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 17th. B. Riley set a $15.00 target price on KVH Industries and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Chardan Capital set a $20.00 target price on KVH Industries and gave the company a “buy” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. KVH Industries currently has a consensus rating of “Buy” and an average target price of $14.20.

In other news, CEO Van Heyningen Martin Kits sold 2,676 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $9.40, for a total value of $25,154.40. Following the sale, the chief executive officer now directly owns 841,105 shares in the company, valued at approximately $7,906,387. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 10,375 shares of company stock valued at $101,534. Insiders own 11.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. lifted its position in KVH Industries by 96.1% during the first quarter. Moors & Cabot Inc. now owns 199,936 shares of the communications equipment provider’s stock valued at $2,028,000 after acquiring an additional 97,968 shares during the last quarter. SPC Financial Inc. grew its holdings in KVH Industries by 92.1% in the first quarter. SPC Financial Inc. now owns 41,610 shares of the communications equipment provider’s stock worth $424,000 after purchasing an additional 19,955 shares during the last quarter. BlackRock Inc. increased its position in shares of KVH Industries by 1.6% during the fourth quarter. BlackRock Inc. now owns 1,209,227 shares of the communications equipment provider’s stock worth $12,443,000 after purchasing an additional 19,010 shares in the last quarter. B. Riley Financial Inc. acquired a new position in shares of KVH Industries during the first quarter worth $255,000. Finally, White Pine Capital LLC acquired a new position in shares of KVH Industries during the first quarter worth $401,000. 55.02% of the stock is currently owned by hedge funds and other institutional investors.

About KVH Industries

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

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Earnings History for KVH Industries (NASDAQ:KVHI)

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